Market Activity - Chevy Chase 20815 : April 2017

By
Real Estate Agent with Keller Williams Capital Properties DC AB15253

Market Value Information Chevy Chase Maryland 20815

How much is your home in Chevy Chase worth? Are prices up or soaring? How long are homes staying on the market? What should you do to increase the value of your home? If you are thinking of selling your home this year, you need to know which way home values are going! 

 

 

MARKET INFORMATION FOR DETACHED PROPERTIES in CHEVY CHASE 20815

In 20815, the median sold price for Detached properties for April was $1,400,000, representing an increase of 34.7% compared to last month and an increase of 23.8% from Apr 2016.

The average days on market for units sold in April was 51 days, 10% below the 5-year April average of 57 days. There was a 4.2% month over month increase in new contract activity with 25 New Pendings; a 13.8% MoM increase in All Pendings (new contracts + contracts carried over from March) to 33; and a 23.7% increase in supply to 73 active units.

This activity resulted in a Contract Ratio of 0.45 pendings per active listing, down from 0.49 in March and a decrease from 0.68 in April 2016. The Contract Ratio is 36% lower than the 5-year April average of 0.70. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

 

MARKET INFORMATION FOR CONDOS in CHEVY CHASE 20815

 

 

In 20815, the median sold price for Condo & Coop properties for April was $549,000, representing an increase of 6.6% compared to last month and a decrease of 6.2% from Apr 2016.

The average days on market for units sold in April was 29 days, 36% below the 5-year April average of 45 days. There was a 16.7% month over month decrease in new contract activity with 20 New Pendings; a 12.5% MoM increase in All Pendings (new contracts + contracts carried over from March) to 27; and a 3.4% increase in supply to 60 active units.

This activity resulted in a Contract Ratio of 0.45 pendings per active listing, up from 0.41 in March and an increase from 0.31 in April 2016. The Contract Ratio is 38% lower than the 5-year April average of 0.72. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor.

A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

 

To find out how these numbers affect the price of your home in Chevy Chase please go to:

Get the value of your home in Chevy Chase Md.

 

If you would like how the Lise Howe Group will increase your bottom line when you sell your home, give us a call at 240-401-5577 or email us at lise@lisehowe.com

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Topic:
Real Estate Market Trends
Location:
Maryland Montgomery County Chevy Chase
Tags:
lise howe group
home values in chevy chase md
how much is my chevy chase home worth
market values chevy chase md april 2017
current market values in chevy chase md

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Rainmaker
2,057,000
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Lise - clients in Chevy Chase will be best advise to see you help in buying or selling 

May 23, 2017 07:50 PM #1
Rainmaker
130,276
Marie Haydock
Evergreen Global Homes & Land | RSVP Real Estate - Redmond, WA
Simplifying Real Estate

Wow, condos and co-ops in Chevy Chase are moving pretty fast compared to the past few years.  Exciting times for both Buyers and Sellers in Maryland.

May 23, 2017 09:19 PM #2
Ambassador
3,159,114
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I always enjoy seeing what is going on in your market place Lise Howe 

May 23, 2017 09:57 PM #3
Rainmaker
5,224,297
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Lise Howe I love your little meters.... great eye catching piece.... and buyers and sellers are sure to appreciate your efforts in preparing this presentation for them....they would all be wise to contact you for guidance with their real estate dealings.... your efforts have already been proven!

May 24, 2017 03:28 AM #4
Rainmaker
216,328
Foster Smith Summerville
Carolina One Real Estate - Summerville, SC
Summerville & Charleston Homes for Sale SC Realtor

Good Morning Lisa! Great market reports and helpful presentation about Chevy Chase, MD!

May 24, 2017 04:14 AM #5
Rainmaker
2,541,247
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Hi Lise, you provide buyers and sellers a very thorough market report on the Chevy Chase MD real estate market.

May 24, 2017 02:01 PM #6
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Lise Howe

Assoc. Broker in DC, MD, VA and attorney in DC
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